ABSTRACT
The popular media, as well as the academic jargon, refer to it as the Trade War. The trouble started on 8 March 2018, when the United States (US) President Donald Trump announced a proclamation imposing additional tariffs on steel (25%) and aluminium (10%), based on Section 232 national security justifications. In September 2018 US imposed a 10% tariff on $200 billion worth of imports from China, which will be subject to further increase up to 25%. At the same time, China imposed 5% and 10% tariffs on $60 billion worth of US imports. It is evident that the ongoing trade war has impacted the economies significantly. The subject has also got serious attention from scholars and practitioners of international trade and political economy analysts all over the world. It has impacted many other trading nations that are closely integrated with these two economies through the global production network and supply chain.
